Global Biomaterials Market Extensive Demand and New Developments in Upcoming years
Biomaterials Market by Type of Materials (Metallic, Ceramic, Polymers, Natural), Application (Cardiovascular, Orthopedic, Dental, Plastic Surgery, Wound Healing, Neurological disorders, Tissue Engineering, Ophthalmology) - Global Forecast to 2025", published by MarketsandMarkets™, the global Biomaterials Market is projected to reach USD 47.5 billion by 2025 from USD 35.5 billion in 2020, at a CAGR of 6.0% during the forecast period.
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Browse in-depth TOC on "Biomaterials Market"
333 – Tables
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The growth of this market is mainly driven by increasing funding and subsidies from government agencies and universities for the development of new biomaterials, increasing demand for implantable devices, plastic surgery and wound healing applications, and demand for biomaterials in cardiovascular disease and cardiovascular disease. driven by an increase. This is due to the increased incidence. ever-increasing increase. Awareness and research on regenerative medicine.
The metallic biomaterials segment accounted for the largest share of the type segment in the market
On the basis type of materials, the biomaterials market is broadly segmented into Metallic, Polymeric, Ceramic, and Natural biomaterials. Metallic biomaterials accounted for the largest share of the market.
The cardiovascular application segment accounted for the largest share of the application segment in the market
Based on application, the biomaterials market is categorized into seven segments— cardiovascular, orthopedic, ophthalmology, neurological/central nervous system (CNS), dental, tissue engineering, wound healing, plastic surgery, and other applications. The cardiovascular application segment accounted for the s=largest share of the market.
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The Asia Pacific region is the fastest-growing region of the biomaterials market
Asia Pacific region accounted for the fastest-growing region of the market. It is also estimated to grow at the highest CAGR in the metallic biomaterials market during the forecast period, this is mainly due to Japan's growing healthcare industry, increasing geriatric population, rising number of cosmetic and plastic surgeries in India, lucrative medical devices industry, and favorable tax policies in China.
Key Market Players
Some of the prominent players in the biomaterials market are BASF SE (Germany), Covestro AG (Germany), Celanese Corporation (US), Corbion (Netherlands), Royal DSM (Netherlands), Evonik Industries (Germany), Carpenter Technology Corporation (US), Berkeley Advanced Biomaterials (US), Cam Bioceramics B.V. (Netherlands), CoorsTek Inc. (US), CeramTec (Germany), and GELITA AG (Germany).
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